IHH Healthcare has announced the proposed divestment of Fortis Malar Hospital, Chennai and its related assets by subsidiary Fortis Healthcare.
The proposed divestment to MGM Healthcare will be undertaken for an aggregate consideration of some INR1.28 billion ($20.6 million).
The divestment includes the business operations of Malar Hospital as well as the land and buildings of the hospital and its adjacent and related real estate assets.
Shares in IHH Healthcare Q0F closed 2 cents or 1.18% down at $1.68 on Nov 24.
